Founder of the TRON network Justin SunEthereum asset staked on the Lido network moved stETH assets.
According to Arkham, Sun’s address 0x9F…19Fe unblocked 94,500 WSTETH tokens from Lido 11 hours ago. These assets have converted 109,327 stETH, worth approximately $258 million at the time of writing. WSTETH is also known as a wrapped version of stETH that keeps the stETH balance constant and uses an underlying stake system to reflect staking rewards.
Sun then transferred these stETHs to two new addresses: 0xdC…0ff0 and 0x79…b163, which allow ETH retakers to stake ETH across multiple protocols simultaneously using data availability, decentralized sequencers, lightweight node bridges, and other features. It was invested in EigenLayer, a middleware platform that provides
EigenLayer it recently raised $50 million in a Series A funding round led by Blockchain Capital and has been talked about in the industry, attracting interest from leading investors such as Polychain Capital, Electric Capital, Coinbase Ventures and Ethereal Ventures.
Sun’s address currently has an average of 107,000 WSTETHs worth approximately $301 million. This is enough to make Sun one of the largest staked ETH holders in the crypto market.
Sun has not publicly commented on his move, but some speculation has it that EthereumIt seeks to leverage the security and scalability of ‘s proof-of-stake network while also leveraging the liquidity and rewards offered by EigenLayer and other DeFi protocols.
Sun is known for aggressive marketing and promotional moves, such as buying the BitTorrent, Poloniex, and HTX exchanges, winning a charity auction to have lunch with Warren Buffett, and launching a knockoff version of Filecoin called BTFS.
It is also frequently accused of breaking US and Chinese financial regulations and laws, manipulating the market for its own tokens, and engaging in unethical practices such as plagiarism, censorship, and exit fraud.
